Do investors herd in cryptocurrencies – and why?

Kallinterakis, Vasileios and Wang, Ying (2019) Do investors herd in cryptocurrencies – and why? Research in International Business and Finance, 50. pp. 240-245. ISSN 0275-5319

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Official URL: http://dx.doi.org/10.1016/j.ribaf.2019.05.005

Abstract

We investigate herding and its possible determinants in the cryptocurrency market for the December 2013 – July 2018 period. Herding is significant (irrespective of Bitcoin’s presence and trends over time) and strongly asymmetric (appearing stronger during up-markets, low volatility and high volume days), with smaller cryptocurrencies enhancing its magnitude. Our findings suggest that the cryptocurrency market entails strong destabilizing potential, the latter being of particular relevance to the authorities entrusted with its regulatory treatment.

Item Type: Journal Article
Keywords: Herding, Cryptocurrencies, Bitcoin
Faculty: ARCHIVED Lord Ashcroft International Business School (until September 2018)
SWORD Depositor: Symplectic User
Depositing User: Symplectic User
Date Deposited: 17 Jun 2019 10:31
Last Modified: 14 Nov 2019 16:07
URI: http://arro.anglia.ac.uk/id/eprint/704413

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